9.2 Creating Reverse Accounting Entries
Purpose: Use this document as a reference for creating reverse accounting entries in ctcLink.
Audience: Settlement Manager, GL Accountant
Accounting entries that need to be reversed can be identified by using various identifiers, such as Accounting ID, Source, and Payment ID. The Reverse Accounting Entries process does the following:
- Selects the accounting data
- Reverses the amounts and resets certain statuses and fields
- Assigns a new Accounting ID to each selected header and line items
Note: The process does not reset the accounting event status associated with the original accounting entry.
- Calls document sequencing and ChartField combination editing, when applicable
- Populates the accounting tables with the new data
- Checks for errors and updates the accounting header
- Logs messages summarizing the entries (including type of errors, number of entries created)
Note: Accounting entries can only be reversed once.
Creating Reverse Accounting Entries
Navigation: NavBar > Navigator > Cash Management > Treasury Accounting > Reverse Accounting Request
- The Reverse Accounting Request run control ID search page displays. It defaults to the Find an Existing Value tab. In this example, we'll create a new run control ID.
- Select Add a New Value.
- Enter a meaningful Run Control ID for the automated accounting process in the Run Control ID field.
Note: A run control ID is an identifier that, when paired with your User ID, uniquely identifies the process that you are running. The Run Control ID defines parameters that are used when a process is run. These parameters ensure that when a process runs in the background, the system does not prompt you for additional values.
- Select Add.
- The Reverse Accounting Request page displays.
- Use the Process Frequency dropdown menu to select ‘Always Process.’
- Use the Reverse Accounting Option dropdown menu to choose from one of the following three options:
- Reverse by Accounting ID
- Reverse by Payment ID
- Reverse by Source
Note: The page will render differently depending on the selected Reverse Accounting field selection. Each option has different criteria for identifying the accounting entries to be reversed.
- In the Combo Template field specify a combination editing template.
- Use the Reversal Date Option dropdown menu to select the date type to use as the accounting date for the reversal accounting entries.
Note: The Reversal Date field is available for input when the reversal date option is ‘Specify Date’.
- Select a reversal date from these values:
- Current Date – Select to use the current date as the accounting date for the reversal accounting entries.
- Specify Date – This option requires a value in the Reversal Date field, where you can enter a specific accounting date.
- If you specify ‘Reverse by Payment ID’ in the Reverse Accounting Options field, the Payment ID Criteria section appears.
- If you specify 'Reverse by Source' in the Reverse Accounting Options field, the Source Criteria section appears.
- When the Reverse Accounting Request form is complete, select Run.
Note: The reversal accounting entry is not linked to a fiscal period.
- Process complete.